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4 Hour Strategy (MACD)

  • #14,121
  • Apr 30, 2008 8:59am Apr 30, 2008 8:59am
Hi
am I right that we just got another TC Short signal in EURUSD?
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  • #14,122
  • Apr 30, 2008 9:00am Apr 30, 2008 9:00am
Quoting islandtrader
GBP/USD
took profit on 2nd entry as it moved up to 1st entry level (+20 pips)
and moved the stop loss of remaining position to -20 pips for a free ride.
Next target got it at 1.9712 (+20 pips) as I couldn't watch that trade and let the profits run.
+20 pips total
I also took profit on 45 pips and still holding the second half open for around 70 pips.
  • #14,123
  • Apr 30, 2008 9:10am Apr 30, 2008 9:10am
MACD higher low (and divergence) with Pin bar
I have two pending orders to go long at 1.5553 (50% ret)
and at 1.5544 (62% ret)
If it goes back up without touching those levels I'll miss out as s/l is too big, and the 21ema to close
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  • #14,124
  • Apr 30, 2008 9:30am Apr 30, 2008 9:30am
I think technic ananlysis is very good for eu, it is still in a bearish rhythm. But I find it has more and more divergency(I use KD to confirm it). I think this is the reason why I don't take much profit in this period. The man who traded it TC and HL can both take some profit.
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Plan your trades and trade your plans
  • #14,125
  • Apr 30, 2008 9:52am Apr 30, 2008 9:52am
info
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Plan your trades and trade your plans
  • #14,126
  • Apr 30, 2008 9:59am Apr 30, 2008 9:59am
Quoting bshadroo
eurchf looks good for buy ,if H1 closes above 60 i'll buy
i expected some retracement because of that tail and price missed my order by few pips
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  • #14,127
  • Apr 30, 2008 10:32am Apr 30, 2008 10:32am
I hadnt intended to trade the GBPCHF today since in real money terms it represents too much of a risk at this time for me, but i picked off another +28 later in the afternoon from it since the Euro was laid out, which is +57 for the day. Glad to see more people trading 4 hr things today.

My intention is to make +100 a week, that is my target and am +107 so far which suits me fine.
  • #14,128
  • Apr 30, 2008 10:36am Apr 30, 2008 10:36am
Quoting brettboz
I also took profit on 45 pips and still holding the second half open for around 70 pips.
Wow the CT trade is rocketing up today. Now 180 pips up. Just check the news apparently the move is isolated and not down to anything other than profit taking from longer term trades ahead of FOMC. Im going to tighten up stops before just to make sure.
  • #14,129
  • Apr 30, 2008 10:39am Apr 30, 2008 10:39am
Quoting brettboz
Wow the CT trade is rocketing up today. Now 180 pips up. Just check the news apparently the move is isolated and not down to anything other than profit taking from longer term trades ahead of FOMC. Im going to tighten up stops before just to make sure.
NT Brett!
You could make a fortune just trading the MACD signals on the GBP.
  • #14,130
  • Apr 30, 2008 10:46am Apr 30, 2008 10:46am
Quoting brettboz
Wow the CT trade is rocketing up today. Now 180 pips up. Just check the news apparently the move is isolated and not down to anything other than profit taking from longer term trades ahead of FOMC. Im going to tighten up stops before just to make sure.
Ive faded out most of my trade leaving just 15%, Ive done this for several reasons. 1) makes the end of month results look a little nicer having those 180 in the bank. 2) Im leaving my desk now so don't want to leave such a large position open into FOMC.

If the move is dealers squaring up before FOMC then a sharp move down can't be ruled out and if FOMC don't cut as expected then USD could also gain. So as I see it there are risks for the move down and the rate cut is probably already priced into the market so there is not so much of a risk on the upside.
  • #14,131
  • Apr 30, 2008 10:50am Apr 30, 2008 10:50am
Quoting Hookem28
NT Brett!
You could make a fortune just trading the MACD signals on the GBP.
I only watch GBP/USD and EUR/USD (in this system and others) because I understand these 2 more than any others and the fundamentals behind them.

Forgot to say that won't trade tommorow as it's holiday here in Spain and Friday as it's NFP day.
  • #14,132
  • Apr 30, 2008 11:26am Apr 30, 2008 11:26am
HELLO EVERYONE , Here is the written copy of

Post # 13982
Page # 933
April trade on interbank Platform.
Thanks.
Nadia,
Attached File(s)
File Type: doc interbank april trades.doc   9 KB | 555 downloads
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #14,133
  • Apr 30, 2008 1:34pm Apr 30, 2008 1:34pm
Quoting Palmer
I just took at a the USDJPY:

The daily is on the verge of breaking above the 89 and the 4hr is in the process of forming a TC on the 4hr at the 21 which is also around the 61.8 Fib# area (using the high from about mid Feb). I see a few things here:

1) The MACD looks like it may form a sort of zero bounce here back to the upside.

2) If the 21 does not hold, the 365 and the 61.8 Fib may form a strong support level if the 21 and sends price back to the 21 before proceeding back down (per the method) which may set up for a quicker 1hr entry.

3) But, love the buts, price is in the middle of the 4hr channel right now and I like to see price at a 'predictable area' in a channel, either at the top or bottom of it.

My bias is towards the upside at least back to the 104.80 area. My 4hr still has two hours to close...I'll watch it if I'm still awake...
Well: I was 7 pips off...

Didn't take the trade. Just testing myself to make sure that the cobwebs haven't gotten too thick. I'm on the verge of being 'back'. But will start posting again soon on how I see things. The 1hr chart shows the strong bullish candle area that coincides with the 4hr support at the 365 and 61.8.

If you have the time Phillip's 5 min method...works....

Thanks again to Jedi Master Phillip.

Hey Nadia!!!!!!!!!!!!!!!!
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  • #14,134
  • Apr 30, 2008 1:50pm Apr 30, 2008 1:50pm
HEY PALMER!!!!!
NICE TO BE BACK.....
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #14,135
  • Apr 30, 2008 10:20pm Apr 30, 2008 10:20pm
Entries for short
1. 162.14
2. 162.15

SL 162.61

TP
1. 161.65
2. 160.10 (161.8 fib extension)

see attached chart for analysis
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #14,136
  • May 1, 2008 12:06am May 1, 2008 12:06am
My Euro chart this morning. Great pips for people yesterday, well done!
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  • #14,137
  • Edited 1:25am May 1, 2008 1:09am | Edited 1:25am
My anticipations for EURUSD and GBPUSD for closest time (see pictures).
Please, correct me if smth is wrong or missing.

Edit: v.2 for EURUSD and v.1 on GBPUSD - maight be just higher bars on MACD on 4H (no particular setup, just showing bullish mood) but with TC-s on 1H. Does anybody have experience of taking such setups, is it worth?
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  • #14,138
  • May 1, 2008 1:44am May 1, 2008 1:44am
For example - GBPUSD (08:00, GMT+1) - no particular setup on MACD (see the 1st image), bullish TC on 1H (the 2nd image), on 5min price finds resistance at the level of last high.

My thoughts: setup on 1H could be taken as 4H shows bullish mode (and it can be so strong that there might be no retracement to EMA21-SMA89) BUT enter after price breaks the previous high, on the 1st retracement to the broken level. What would you say (according to this setup and in general according to similar)?
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  • #14,139
  • May 1, 2008 2:04am May 1, 2008 2:04am
Thats my 4hr GBP, TC and nearly two bar high also. I have a long moving average which would be short target for around +30.
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  • #14,140
  • May 1, 2008 2:10am May 1, 2008 2:10am
Quoting Yorik
For example - GBPUSD (08:00, GMT+1) - no particular setup on MACD (see the 1st image), bullish TC on 1H (the 2nd image), on 5min price finds resistance at the level of last high.

My thoughts: setup on 1H could be taken as 4H shows bullish mode (and it can be so strong that there might be no retracement to EMA21-SMA89) BUT enter after price breaks the previous high, on the 1st retracement to the broken level. What would you say (according to this setup and in general according to similar)?
You have a good trendlines there and you are right with your analysis. The TC on 1hr chart is tempting but I don't think I will take such a signal. Though, the 4hrs is bullish as well but I still believe GU is playing a prank right now. It is ranging and not trending and it may form RT or AT to close inside the trendline. Let also see if it breaks the top trendline, come back to test it and move away.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
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